Sept. 4th, 2015
James Turk & Peter Grandich
Please listen here:
- A 2008 credit crisis redux appears imminent, due to reckless debt levels, domestically and around the globe.
- Our guest says the Fed may raise rates by a token percentage this month and in December, and if so, the blowback will be monumental in scale, perhaps even toppling the entire economic edifice.
- He's convinced that the PMs sector is nearing a sustainable nadir, on the heels of a 2 year consolidation.
- Silver should lead the charge out of Dante's inferno.
- The new bull market could reinvigorate mining company operations, in particular major producers with excellent earnings and solid dividends.
- Peter Grandich rejoins the show with thoughts on geoeconomic events.
- The PBoC shifted policy recently, selling $315 billion in US Treasuries from their $3.65 trillion reserve in support of the ailing Yuan currency and equities.
- Clearly one of the wisest of the global central banks has lost faith in the Fed, ahead of the first US benchmark rate hike since 2006, nearly 10 years.
- Higher rates dilutes the intrinsic value of existing US Treasuries, as newer issues offer greater expected return.
- Our guest views the event as emblematic of a global crisis of confidence in centralized economic planning.
- Intervention via the plunge protection team (PPT) was responsible for the 500 point rebound following the 2,000 point, 2-day deluge in the Dow Industrials.
- In his 30 years on Wall Street, he's never seen so much negativity on the sector, a good sign that the ultimate nadir could be close.
- His technical work suggests that a solid break above $1,200 gold could lead to a brisk move to $1,300 - $1,400, in lightning fashion.
- The host adds a cautionary note, that the onset of the last PMs bull market offered ample time to accumulate positions - in similar fashion, there should be no rush to overweight a diversified portfolio.
Please listen here:
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